Modern gaming systems may allow a player to insert cash into a machine or hand cash to a cashier and in return receive credit for the play of games in the system. This gaming system credit may take the form of an account accessible by the player or some physical cash equivalent such as a voucher or ticket. Once a player receives their gaming system credit, whether it be in the form of an account set up for the player or some tangible cash equivalent such as a voucher or ticket, the player can then use the gaming system credit to participate in games offered through the gaming system. In the course of participating in various games, the player can make wagers to reduce their remaining credit, and receive winnings to increase their credit. Ultimately, the player can request a cash out transaction to redeem their remaining gaming system credit for cash or other value.
These modern game accounting systems are very convenient for the players and for the gaming facility operators. In particular, the players need not carry large amounts of coins or tokens to participate in games. Also, the gaming facilities need not have the physical equipment and security required for coins and tokens. However, these modern game accounting systems can be used for illegal activities, particularly money laundering. Money laundering will be referred to in this disclosure generally as a process in which cash, commonly from illegal activities, is converted into some other form and then ultimately back into cash or some other asset in an effort to mask the original source of the funds and thus make illegal funds appear to be legitimately acquired assets.
The following scenario illustrates an illegitimate use of a gaming facility for money laundering. A person having some amount of ill-gotten cash to be laundered may first convert the cash amount to gaming system credit. The person may then convert the gaming system credit back into cash without making a significant amount of wagers in relation to the initial gaming system credit. At the time the player obtains cash for their gaming system credit, it may appear that the player has obtained legitimate winnings from their participation in the gaming system. However, the player has in fact not placed any significant portion of the ill-gotten funds at risk and has instead simply created a break in ownership to make it more difficult to track the ill-gotten funds.